MattW

Interesting article in today's Times showing the increase in tax the treasury has enjoyed over last 10 years. I can't see the graphs on their website but the source is credited to Grant Thornton.

Graph 1 - Income Tax
96/7 - 60billion
07/8 - 160 billion

Graph 2 - VAT
96/7 - 47billion
07/8 - 80 billion

Graph 3 - Council Tax
96/7 - 5 billion
07/8 - 24 billion

Graph 4 - Stamp duty
96/7 - 1 billion
07/8 - 7 billion

Graph 5 - All taxes
96/7 - 210 billion
07/8 - 425 billion

Prett shocking all things considered.

Luminous

iTrader: (3)

Aye, it sucks pretty bad, especially the council tax rises.

Suresh

Tax rates didn't double but the size of the economy probably did though, which is terrible news, right?

MattW

True for Income Tax and Vat, not so for Stamp Duty (to an extent) and Council Tax. My point was the amount of tax that is being collected now, not necessarily that we are paying more in any particular area.

_Meridian_

iTrader: (1)

Adjusted for inflation or not? If not, inflation would halve those increases at least.


M

jods

All well and good if you are working - not so hot if you are retired on a fixed rate pension.

Not retired myself but near enough to be thinking about how I will afford to eat / drink and be merry

PeteBrant

The tax burden as a whole on the individual has gone up around 5% since '97 I seem to remember.

MattW

5.8bn today would be worth 5bn in 1997

according to UK Inflation (CPI) calculator

Leslie

We were warned that this would happen of course, typical of their policies over the years they have ever been in power. The economy has always gone the same way too. It is all a house of cards.

They are of course looking every day for yet another scheme to screw more out of us to support their ridiculous ideas.

Les

stilover

Wonder how much they've raised extra in Inheritance Tax?

Bet that shows one of the biggest rises.

speedking

Would take 7.2% inflation each year to halve the value of money in 10 years. I don't believe we've seen that. At an average of 4%/year value increases by 50% in ten years, in which case the tax take has increased by a third

chris-boris

iTrader: (7)

ROUGHLY averaging the inflation over the last 10 years sees £210bn in 1997 worth about £243bn this year.

The increased revenue from taxes can mainly be put down to our economy being strong/people spending more now than they used to and there being more tax-paying poeple living here as opposed to 1997.

I dont mind paying taxes IF, and its a big if, they are spent wisely on things we all can benefit from - such as the NHS or improving the quality of our roads etc etc and not on housing people who are too bone idol to get a job when they are perfectly able to or giving it to other countries!

PeteBrant

Interestingly, the total average tax burden by 2009 is envisaged to be 40.5%. That is the highest since the mid 80's but still lower than the average under the Tories from 1979-1997.

Interesting because I thought we were taxed more than ever. But the reality is, we aren't.

http://www.ifs.org.uk/budgets/gb2005/05chap6.pdf